Susquehanna Portfolio Strategies LLC Sells 3,165 Shares of Kelly Services, Inc. (NASDAQ:KELYA)

Susquehanna Portfolio Strategies LLC reduced its stake in Kelly Services, Inc. (NASDAQ:KELYA) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,957 shares of the business services provider’s stock after selling 3,165 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Kelly Services were worth $363,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Kelly Services by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,707,721 shares of the business services provider’s stock worth $57,972,000 after buying an additional 21,230 shares in the last quarter. Boston Partners acquired a new position in Kelly Services in the first quarter worth $18,618,000. American Century Companies Inc. grew its holdings in shares of Kelly Services by 35.9% during the second quarter. American Century Companies Inc. now owns 682,857 shares of the business services provider’s stock worth $14,620,000 after purchasing an additional 180,238 shares during the last quarter. LSV Asset Management increased its stake in shares of Kelly Services by 5.2% in the second quarter. LSV Asset Management now owns 615,729 shares of the business services provider’s stock valued at $13,183,000 after buying an additional 30,300 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Kelly Services by 5.8% in the second quarter. AQR Capital Management LLC now owns 371,548 shares of the business services provider’s stock valued at $7,955,000 after buying an additional 20,520 shares during the last quarter. 76.34% of the stock is owned by institutional investors and hedge funds.

Kelly Services Price Performance

Kelly Services stock opened at $21.12 on Monday. The stock has a market cap of $750.22 million, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.65 and a beta of 1.19. Kelly Services, Inc. has a 12-month low of $17.40 and a 12-month high of $25.27. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The business’s 50-day simple moving average is $21.11 and its 200 day simple moving average is $22.17.

Kelly Services (NASDAQ:KELYA) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. Kelly Services had a net margin of 1.09% and a return on equity of 7.82%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. Kelly Services’s revenue for the quarter was down 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Kelly Services, Inc. will post 2.49 earnings per share for the current year.

Kelly Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Wednesday, August 21st were given a $0.075 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $0.30 annualized dividend and a dividend yield of 1.42%. Kelly Services’s dividend payout ratio is currently 21.58%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KELYA shares. Barrington Research restated an “outperform” rating and issued a $29.00 price objective on shares of Kelly Services in a research report on Friday. StockNews.com cut shares of Kelly Services from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Kelly Services Profile

Kelly Services, Inc, together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions.